WEBVTT - Study Hall: Is it the End for Airbnb & Uber? Examining the Crash

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

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<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 1>never return. But if you register using our CBP home

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<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

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<v Speaker 1>border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>Let's talk about this potential bubble forming in the airbnb

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<v Speaker 3>market and how resilient is the company's business model in

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<v Speaker 3>economic down This is actually a stock and real estate

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<v Speaker 3>question because we can talk about Airbnb stock, which has

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<v Speaker 3>not performed at extremely high levels. And we can also

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<v Speaker 3>you know, I'm investing in Airbnb hasn't worked out. Yeah,

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<v Speaker 3>I brought Airbnb a long time ago.

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<v Speaker 4>You said it.

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<v Speaker 3>Yeah, it's a little bit. It's not it's not a

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<v Speaker 3>lot of Yeah, it's it's oh, it's not a lot

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<v Speaker 3>of money. That's why I looked over like, what it's

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<v Speaker 3>not a lot of money.

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<v Speaker 4>But yeah, it hasn't. It hasn't worked out. I'll tell

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<v Speaker 4>you that much.

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<v Speaker 5>We're pressure in you don't call me on this one.

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<v Speaker 4>I forgot, I forgot.

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<v Speaker 3>But yeah, Airbnb is currently at one hundred and thirty

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<v Speaker 3>two dollars. I think it debuted in twenty twenty at

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<v Speaker 3>one hundred and thirty nine dollars.

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<v Speaker 4>Then it got all the way up to two hundred

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<v Speaker 4>and nineteen twelve.

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<v Speaker 3>And then yeah, it's just been kind of like moving

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<v Speaker 3>sideways dropping ever since.

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<v Speaker 6>It's about to be back to where ibo that Airbnb?

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<v Speaker 3>We speaking of investments, we got, Wow, we got somebody.

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<v Speaker 3>Actually I'll talk about that later. Airbnb is a very

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<v Speaker 3>interesting company because it's it's revolutionized the world really and

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<v Speaker 3>you know, has given hotels really a run for their money.

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<v Speaker 3>It's really the uber of hospitality, and you know where

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<v Speaker 3>anybody can now like how uber anybody could have became

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<v Speaker 3>a cab driver. Now anybody, you know, you can just

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<v Speaker 3>rent your house or rent your apartment. Brilliant idea. It's

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<v Speaker 3>actually one of the best ideas that I think I've

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<v Speaker 3>ever heard of. But like all good things, there's going

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<v Speaker 3>to be challenges, and uh, the hospitality lobby extremely strong,

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<v Speaker 3>and they have attacked them and they have they have

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<v Speaker 3>successfully caused them.

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<v Speaker 4>Lots of issues. A lot of cities have.

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<v Speaker 3>Banned airbnb's, a lot of buildings have been airbnb, a

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<v Speaker 3>lot of regulation. You can only airbnb half the year,

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<v Speaker 3>you can't sublease the Airbnb is. They've they've faced a

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<v Speaker 3>lot of issues. So academics actually even posted it. I

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<v Speaker 3>got the screen beach his radar. So yeah, let's talk

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<v Speaker 3>about it. Let's talk about it. You want to go

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<v Speaker 3>over to the cities, Okay, So these are the cities.

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<v Speaker 3>Top ten cities for Airbnb collapse. Orlando, Florida down thirty

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<v Speaker 3>to thirty four percent, Panama City down thirty four percent, Seattle, Washington,

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<v Speaker 3>down thirty five percent, Lakeland, Florida down thirty five percent.

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<v Speaker 3>New Orleans down thirty seven percent, Breakridge, Colorado, down thirty

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<v Speaker 3>seven percent, Denver, Colorado, down thirty eight percent, Nashville down

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<v Speaker 3>thirty nine percent, Southbury, Maryland thirty nine percent, Asheville, North

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<v Speaker 3>Carolina forty two percent, San Antonio, Texas forty three percent,

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<v Speaker 3>Myrtle Beach, South Carolina down forty five percent, Austin, Texas,

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<v Speaker 3>down forty six percent, Phoenix, Arizona, down forty seven percent,

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<v Speaker 3>And the number one is Severnville, Tennessee is down forty

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<v Speaker 3>seven Who is paying sixty two hundred dollars to stay

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<v Speaker 3>in Sarahville, Tennessee.

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<v Speaker 5>What's around there?

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<v Speaker 4>That must be I don't know what'sn't that's.

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<v Speaker 5>Going on over there, but all right, somebody let us

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<v Speaker 5>know if.

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<v Speaker 7>A our journalistic integrity said this data is cute, which

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<v Speaker 7>it can be. My larger point that I do want

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<v Speaker 7>to address though, versus the stock, and then we can

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<v Speaker 7>go to the business model. I don't think the Airbnb

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<v Speaker 7>stock is dead, but I think it has been severely affected,

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<v Speaker 7>like you said, by legislation. So number one, like, if

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<v Speaker 7>you don't have legislation on your side, you definitely don't

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<v Speaker 7>want to be attacked. If it's not going to be

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<v Speaker 7>in your favor. Airbnb is a great idea that it's

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<v Speaker 7>probably poorly executed and as a beneficiary of a ton

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<v Speaker 7>of funding, but the management team isn't reflective of the

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<v Speaker 7>amount of funding that they were receiving.

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<v Speaker 5>Stock is on the up and up a little bit.

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<v Speaker 7>Everything is bounced up this year just because hedge funds

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<v Speaker 7>and pension funds have to rotate money, so that's not

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<v Speaker 7>really an indicative of their performance. I think they need

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<v Speaker 7>to change some of these rules, Like, yes, it was

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<v Speaker 7>an innovative idea to disrupt, but also when you try

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<v Speaker 7>and disrupt the market, the existing players that are there

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<v Speaker 7>are going to push back heavily. Hotels of justed incredibly well.

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<v Speaker 7>And let's be honest, Airbnbs are not the safest thing

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<v Speaker 7>to be in. So if there's a chance of something that,

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<v Speaker 7>like if you have a prominent rapper like Pop Smoke

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<v Speaker 7>Die in one of your properties, And on top of that,

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<v Speaker 7>if I get one in Atlanta, I gotta pay a

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<v Speaker 7>two hundred and fifty dollars cleaning fleet fee.

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<v Speaker 5>I'm like Brian going on vacation a fucking mop No,

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<v Speaker 5>I'm sorry.

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<v Speaker 7>There has to be fundamental changes in their business in

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<v Speaker 7>order to make Airbnb viable Uber, Airbnb, vrbo. Some of

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<v Speaker 7>those businesses come at the tail end of the last

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<v Speaker 7>cycle of social media or web two point zero.

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<v Speaker 5>The business models just are not as strong. I don't

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<v Speaker 5>like the stock.

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<v Speaker 7>The stock should hit one forty then slide back to

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<v Speaker 7>somewhere around between one ten and one hundred. It probably

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<v Speaker 7>won't be back to two nineteen in a long time.

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<v Speaker 7>It's one of the stocks that got affected by inflation. Now,

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<v Speaker 7>could they make an adjustment, some changes in management restructuring.

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<v Speaker 5>There's a lot that they can do.

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<v Speaker 7>There's some people probably from HG and Hilton that they

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<v Speaker 7>probably should hire to run the company or add to

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<v Speaker 7>their board that could give them a stronger push. But overall,

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<v Speaker 7>I don't like the stock. And for those that have

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<v Speaker 7>been doing Airbnb for a while, as there's still ways

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<v Speaker 7>to because I know Matt gonna cook the substante shot

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<v Speaker 7>out the MG. Are there still ways to be profitable

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<v Speaker 7>in airbnbes, but at scale.

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<v Speaker 5>Once again, same with colleges.

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<v Speaker 7>The premise of just renting apartment anywhere and you can

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<v Speaker 7>lease it and make money is not as promising or

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<v Speaker 7>lucrative as was once proposed in twenty eighteen, twenty nineteen,

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<v Speaker 7>and twenty twenty, and for that reason.

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<v Speaker 4>I do not like.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:08:55.360 --> 0:08:59.199
<v Speaker 1>in Massachusetts. An MS thirteen gang member from El Salvador

0:08:59.400 --> 0:09:03.560
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:09:03.640 --> 0:09:07.520
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:09:07.640 --> 0:09:11.400
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:09:11.400 --> 0:09:14.960
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:09:15.000 --> 0:09:19.800
<v Speaker 1>Secretary of Homeland Security under President Trump. Attempted illegal border

0:09:19.840 --> 0:09:23.400
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:09:23.440 --> 0:09:26.680
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:09:26.760 --> 0:09:30.600
<v Speaker 1>are here illegally, your next you will be fine nearly

0:09:30.679 --> 0:09:34.720
<v Speaker 1>one thousand dollars a day. Imprisoned and deported, you will

0:09:34.720 --> 0:09:38.400
<v Speaker 1>never return. But if you register using our CBP home

0:09:38.440 --> 0:09:41.800
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:09:42.160 --> 0:09:46.920
<v Speaker 1>Do what's right, leave now. Under President Trump, America's laws,

0:09:47.080 --> 0:09:49.520
<v Speaker 1>border and families will be protected.

0:09:49.640 --> 0:09:51.720
<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>Airbnb's stock So, like I said, business model Airbnb, Uber,

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<v Speaker 3>it's kind of similar and new stock has actually performed

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<v Speaker 3>kind of similar too. Uber has been sideways since it's open.

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<v Speaker 3>It's went up and.

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<v Speaker 4>Then came back down and kind of like cardiac.

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<v Speaker 3>Chart yep, margin in both businesses. All right, So Uber

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<v Speaker 3>is a bad stock. Also, are they coming to invest us?

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<v Speaker 4>Not currently not currently.

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<v Speaker 3>Uber socks piece of shit, respectfully, respectfully, respectfully.

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<v Speaker 5>Great innovation.

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<v Speaker 7>Okay, this is well, somebody is equivalent of me using

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<v Speaker 7>nineteen ninety moves in a twenty twenty three NBA environment.

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<v Speaker 6>Yes, man, there's people are gonna say, like, look they

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<v Speaker 6>weren't profitable.

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<v Speaker 5>They finally are profitable. Why isn't this good? Okay, I'll

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<v Speaker 5>answer that, And now I won't even lean on my.

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<v Speaker 7>Two favorite cards, Apple or Microsoft if they're just not

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<v Speaker 7>profitable and they're barely better than let's say, like when

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<v Speaker 7>let's just take real estate, we're gonna say Airbnb is

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<v Speaker 7>are estate company? Are they better than let's say McDonald No,

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<v Speaker 7>not abb I'm saying Uber. Are they better than Tesla? No,

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<v Speaker 7>we can argue, but they're different. They're different companies though

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<v Speaker 7>Uber ubert is Uber?

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<v Speaker 5>Go ahead?

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<v Speaker 4>How many? How many times a month do you use it?

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<v Speaker 2>Uber time?

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<v Speaker 4>Exactly?

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<v Speaker 5>That doesn't mean that it's a good.

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<v Speaker 3>The problem marginal, terrible and Uber eats forget about it.

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<v Speaker 5>Oh boy, got a pot back on that stove.

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<v Speaker 3>You know what I'm saying, it's a very useful. It's

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<v Speaker 3>a very it's a very it's very useful. Well that

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<v Speaker 3>might be an issue, but that it's very Most people

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<v Speaker 3>use Uber all the time.

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<v Speaker 5>Oh I forgot that.

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<v Speaker 6>Yeah, Yeah, we just we use a lot.

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<v Speaker 8>It's tough when you have relationships, you use Uber and

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<v Speaker 8>so do we. And I think it's a great it's

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<v Speaker 8>a great invention.

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<v Speaker 4>For not, but you bring up a good point.

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<v Speaker 3>You bring up a good point that maybe maybe maybe

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<v Speaker 3>they needed a new CEO. And I don't want to

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<v Speaker 3>advocate for anybody lose their job, but I think that

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<v Speaker 3>the business model in Uber is very solid and very useful.

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<v Speaker 3>The profit margin thing what you what you mentioned that

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<v Speaker 3>could be that could be an issue.

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<v Speaker 4>So but half of the like, like I said, I

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<v Speaker 4>use Uber all the time. I don't.

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<v Speaker 3>You haven't used Airbnb in a long time, But I

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<v Speaker 3>use Uber all the time, and I use Uber Eats

0:12:38.960 --> 0:12:42.480
<v Speaker 3>even more than I use Uber car service. So I

0:12:42.559 --> 0:12:46.480
<v Speaker 3>feel that they have an opportunity to to be here

0:12:46.520 --> 0:12:48.360
<v Speaker 3>for the long. I don't see them going away because like,

0:12:48.440 --> 0:12:51.440
<v Speaker 3>let's think about it. If Uber goes away, nobody's catching

0:12:51.480 --> 0:12:52.120
<v Speaker 3>cabs anymore.

0:12:52.160 --> 0:12:56.440
<v Speaker 6>So like we're screwed that there's no affirmative action for cabs.

0:12:56.520 --> 0:12:59.520
<v Speaker 6>That's Uber, right, So think about this, right, even for

0:12:59.679 --> 0:13:01.640
<v Speaker 6>somebody issues that they had from a safety standpoint, I

0:13:01.679 --> 0:13:03.560
<v Speaker 6>know that was one of the issues they they've they've

0:13:04.000 --> 0:13:06.560
<v Speaker 6>addressed that right. Even now, when you're in your Uber

0:13:06.600 --> 0:13:08.599
<v Speaker 6>if it's not moving, you get the text messag's like

0:13:08.679 --> 0:13:13.120
<v Speaker 6>are you okay? You're you're your Uber hasn't. They've adjusted

0:13:13.160 --> 0:13:14.920
<v Speaker 6>to the safety. But it was also interesting. Is the

0:13:14.960 --> 0:13:19.280
<v Speaker 6>international play right Like we were watching Uber go into countries.

0:13:19.280 --> 0:13:23.640
<v Speaker 6>We sat down at Afro Afro crin uh In l

0:13:23.679 --> 0:13:26.600
<v Speaker 6>A and we were talking about uber Co and Naghana

0:13:26.640 --> 0:13:29.640
<v Speaker 6>and Uber coming to Nigeria. So this there's still this

0:13:29.720 --> 0:13:33.640
<v Speaker 6>international play that they still have room for expansion like

0:13:33.679 --> 0:13:36.920
<v Speaker 6>we were in Europe it was easy, like catching the

0:13:37.000 --> 0:13:40.120
<v Speaker 6>Uber was nothing, So there's still some room for growth.

0:13:40.200 --> 0:13:44.800
<v Speaker 6>I'm not so sure. I'm embarrassing. And that income is

0:13:44.840 --> 0:13:46.840
<v Speaker 6>down nine point one four billion.

0:13:46.559 --> 0:13:51.480
<v Speaker 3>Dollars for this year twenty twenty two.

0:13:51.640 --> 0:13:52.480
<v Speaker 4>The income was down.

0:13:53.880 --> 0:13:55.800
<v Speaker 3>That's surprising because like I said, I don't I don't

0:13:55.800 --> 0:13:56.880
<v Speaker 3>know why the income will be down.

0:13:57.080 --> 0:13:57.959
<v Speaker 4>People using it.

0:13:58.360 --> 0:14:00.920
<v Speaker 7>Yeah, some margins game and if I'm going to be

0:14:00.920 --> 0:14:04.480
<v Speaker 7>super transparent, any business that is operating off really thin

0:14:04.520 --> 0:14:05.320
<v Speaker 7>the margins.

0:14:05.040 --> 0:14:06.560
<v Speaker 5>Or low price they usually go through.

0:14:06.600 --> 0:14:10.240
<v Speaker 7>This series has went through this like the Circuit City

0:14:10.400 --> 0:14:11.480
<v Speaker 7>failed and went under.

0:14:11.520 --> 0:14:12.240
<v Speaker 5>Because it's like.

0:14:13.559 --> 0:14:16.160
<v Speaker 7>It's all like it works for a period of time

0:14:16.240 --> 0:14:20.520
<v Speaker 7>when there's an exuberance in the culture or country and

0:14:20.560 --> 0:14:24.080
<v Speaker 7>spending or where there's so much money slushing around, but

0:14:24.120 --> 0:14:25.440
<v Speaker 7>when things get tight.

0:14:25.600 --> 0:14:27.320
<v Speaker 5>Will the business be able to survive.

0:14:27.440 --> 0:14:31.440
<v Speaker 7>Usually no, and that's on the enterprise side or on

0:14:31.880 --> 0:14:34.760
<v Speaker 7>the B two C side. It has to even in

0:14:35.360 --> 0:14:37.640
<v Speaker 7>going to the episode in government contracting, just because you

0:14:37.640 --> 0:14:39.000
<v Speaker 7>put it in the lowest bid does not mean you're

0:14:39.000 --> 0:14:40.800
<v Speaker 7>gonna get the offer. Because you offer the lowest bid,

0:14:40.840 --> 0:14:42.800
<v Speaker 7>you may not be able to fulfilled the services needed

0:14:43.280 --> 0:14:45.920
<v Speaker 7>as a result. So everything, please write this down. Everything

0:14:45.920 --> 0:14:48.720
<v Speaker 7>in business is really about margin. Yeah, I know, I

0:14:48.760 --> 0:14:51.320
<v Speaker 7>get criticized and killed for my prices all the time

0:14:51.520 --> 0:14:54.520
<v Speaker 7>while doing a free show every week. I cannot wait

0:14:54.560 --> 0:14:58.240
<v Speaker 7>till for all these be pre recorded. But you need

0:14:58.280 --> 0:15:01.520
<v Speaker 7>a higher price point to be sustainable. Notice, even when

0:15:01.520 --> 0:15:05.440
<v Speaker 7>Tesla beat those deliveries deliveries, right, one of the things

0:15:05.440 --> 0:15:07.320
<v Speaker 7>they talked about is are we going to increase these

0:15:07.400 --> 0:15:11.360
<v Speaker 7>prices back so our margins are not dramatically affected. You

0:15:11.480 --> 0:15:14.040
<v Speaker 7>need that capital to be able to reinvest into the business.

0:15:14.040 --> 0:15:15.160
<v Speaker 5>So I'm glad you.

0:15:15.080 --> 0:15:17.160
<v Speaker 6>Brought up Tessa because that might be a way to

0:15:17.200 --> 0:15:21.600
<v Speaker 6>help the margins, right yep. On Tournament driving, this might

0:15:21.600 --> 0:15:24.240
<v Speaker 6>be away and Steve zero zero on YouTube. Yeah, I'm

0:15:24.280 --> 0:15:27.200
<v Speaker 6>aware that Ubers and Ghana. I was referring to the

0:15:27.240 --> 0:15:31.720
<v Speaker 6>gentleman who was integral in bringing the company to the country.

0:15:33.080 --> 0:15:38.280
<v Speaker 3>My graduates from my school being forced back drop drop

0:15:38.920 --> 0:15:40.600
<v Speaker 3>might drop drop.

0:15:51.640 --> 0:15:55.320
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:15:55.360 --> 0:15:59.160
<v Speaker 1>in Massachusetts. An MS thirteen gang member from El Salvador

0:15:59.400 --> 0:16:03.520
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:16:03.600 --> 0:16:07.480
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:16:07.600 --> 0:16:11.360
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:16:11.400 --> 0:16:14.920
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:16:15.000 --> 0:16:19.760
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:16:19.800 --> 0:16:23.360
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:16:23.440 --> 0:16:26.640
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:16:26.720 --> 0:16:30.560
<v Speaker 1>are here illegally, your next you will be fined nearly

0:16:30.640 --> 0:16:34.680
<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

0:16:34.720 --> 0:16:38.360
<v Speaker 1>never return. But if you register using our CBP home

0:16:38.400 --> 0:16:41.760
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:16:42.120 --> 0:16:46.920
<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

0:16:47.040 --> 0:16:49.480
<v Speaker 1>border and families will be protected.

0:16:49.600 --> 0:16:51.720
<v Speaker 2>Sponsored by the United States Department of Homeland Security,